WHICH ACCOUNTS DO NOT APPEAR ON THE BALANCE SHEET – UNDERSTAND (Business Opportunities - Advertising Service)
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Item ID 4029652 in Category: Business Opportunities - Advertising Service
WHICH ACCOUNTS DO NOT APPEAR ON THE BALANCE SHEET – UNDERSTAND | |
The balance sheet reflects a company's financial position by listing its assets, liabilities, and equity. However, certain accounts do not appear on the balance sheet. Income and expense accounts, such as revenue, cost of goods sold, and operating expenses, are excluded as they are part of the income statement. Additionally, off-balance sheet items like operating leases, contingent liabilities, and certain contractual obligations are not recorded directly but may be disclosed in financial statement notes. Temporary accounts, like dividends and drawing accounts, also don’t appear since they are closed at the end of the accounting period, affecting retained earnings instead. | |
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| Target Prov.: New Brunswick Target City : UNITED STATES Last Update : Feb 03, 2025 10:13 AM Number of Views: 11 | Item Owner : QB Data Service Contact Email: Contact Phone: (None) |
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2025-02-04 (0.385 sec)